Sunshine Pictures IPO GMP today is Rs 50. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
Mainboard IPO
SUNSHINE
Sunshine Pictures IPO GMP, Subscription & Allotment Status Today
Sunshine Pictures Limited is a production house engaged in originating, developing, producing, marketing, and distributing feature films, television programmes, and web series. The company has produced 13 commercial films, including notable successes like “Force,” “Holiday,” and “The Kerala Story,” along with two web series and three television serials. Sunshine Pictures operates on a dual-model strategy, utilizing co-productions with studios to mitigate financial risk while also undertaking sole productions to retain full intellectual property rights and maximize revenue from multiple streams. Revenue is generated from the production and distribution of films and OTT/TV serials, with additional income from its music label “Sunshine Music,” digital content vertical “Sunshine Digital (Originals),” talent management, and social media platforms. The company’s diversified content portfolio and business model position it to capitalize on evolving audience preferences in the Indian media and entertainment industry.
- Price Band
- ₹342.00 - ₹360.00
- Lot Size
- 41 Shares
- Bidding Closes
- 20 Aug 2026
- Listing Date
- 25 Aug 2026
Current GMP Status
₹50
+13.89% vs upper band
Est. Listing Gain
+9.44%
Last Trend
25 Aug 2026
Listing Price
₹394.00
Retail Entry
₹14,760
IPO Details
Complete IPO information
| Current GMP | ₹50 |
|---|---|
| Estimated Listing Gain | +9.44% |
| Price Band | ₹342.00 - ₹360.00 |
| Issue Price | Approx ₹360.00 Crores |
| Listing Price | ₹394.00 |
| Lot Size | 41 Shares |
| Issue Type | Mainboard |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | 23.66x |
| Listing Date | 25 Aug 2026 |
| Minimum Investment | ₹14,760 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 15.67 | 315.46 | 20.13x |
| NII | 11.76 | 605.07 | 51.47x |
| Retail | 27.43 | 377.31 | 13.76x |
| Overall Subscription | 54.86 | 1297.84 | 23.66x |
Head-to-head
Compare Sunshine Pictures IPO with similar IPOs
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Sunshine Pictures is priced at ₹360 per share. With a minimum lot size of 41 shares, a retail investor applying for one lot would need approximately ₹14,760 to participate in this Mainboard issue.
The latest recorded Grey Market Premium for Sunshine Pictures stands at ₹50, implying an estimated listing gain of around 13.89% over the issue price if it holds until listing. This is down ₹30 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Sunshine Pictures's IPO was subscribed 23.66x overall, with a category-wise breakdown of Retail 13.76x, QIB 20.13x, NII 51.47x.
Among the strengths highlighted in Sunshine Pictures's IPO documents: Exceptional and experienced leadership team.; Innovative and resilient business model with a dual production strategy..
Investors should also weigh the risk factors Sunshine Pictures has disclosed, including: Success is highly dependent on the unpredictable acceptance of content by the audience..
Mainboard IPOs list on the main platform of BSE/NSE, typically involve larger issue sizes, and draw participation across retail, HNI and institutional (QIB) investor categories.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
18 Aug 2026
✓
Bidding Closes
20 Aug 2026
✓
Allotment
21 Aug 2026
✓
Listing
25 Aug 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 25 Aug 2026 | ₹50.00 | -₹30.00 | 13.89% |
| 20 Aug 2026 | ₹80.00 | +₹3.00 | 22.22% |
| 19 Aug 2026 | ₹77.00 | +₹2.00 | 21.39% |
| 18 Aug 2026 | ₹75.00 | - | 20.83% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 41 | ₹14,760 |
| Retail Maximum | 13 Lot | 533 | ₹1,91,880 |
| S-HNI Minimum | 14 Lot | 574 | ₹2,06,640 |
| S-HNI Maximum | 67 Lot | 2,747 | ₹9,88,920 |
| B-HNI Minimum | 68 Lot | 2,788 | ₹10,03,680 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Issue Notes
Important takeaways before applying
Strengths
- Exceptional and experienced leadership team.
- Innovative and resilient business model with a dual production strategy.
- Comprehensive industry network with strong relationships.
- Expertise in intellectual property monetization.
- Diversified portfolio across films, TV, and digital content.
Risks
- Success is highly dependent on the unpredictable acceptance of content by the audience.
- The business is subject to the inherent volatility of the entertainment industry.
- Limited global market penetration.
- Intense competition from other production houses.
- Risks related to intellectual property infringement claims.
Analysis
Sunshine Pictures IPO Details
The Sunshine Pictures IPO is a book-built mainboard public issue with a total issue size of approximately ₹282.14 crores. The issue comprises a fresh issue of approximately ₹172.80 crores along with an Offer for Sale (OFS) of approximately 30,37,157 equity shares.
The IPO will open for subscription on August 18, 2026 and close on August 20, 2026. Sunshine Pictures has fixed the price band at ₹342 to ₹360 per equity share, while the face value is ₹10 per share. The company's equity shares are proposed to be listed on both the BSE and NSE.
| Particular | Details |
|---|---|
| IPO Open Date | August 18, 2026 |
| IPO Close Date | August 20, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹342 to ₹360 Per Share |
| Issue Size | Approx ₹282.14 Crores |
| Fresh Issue | Approx ₹172.80 Crores |
| Offer for Sale | Approx 30,37,157 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE & NSE |
Note: Sunshine Pictures operates in the film and entertainment industry. Investors should evaluate the company's financial performance, dependence on successful content, revenue visibility, IPO valuation, use of fresh issue proceeds and other business risks before evaluating the IPO.
Analysis
Sunshine Pictures IPO Reservation
The Sunshine Pictures IPO has a category-wise reservation for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Individual Investors and Anchor Investors.
As per the provided reservation structure, 50% of the offer is allocated to Qualified Institutional Buyers, excluding the anchor investor portion. 15% is reserved for Non-Institutional Investors, while 35% is reserved for Retail Individual Investors.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The exact number of shares offered under each investor category is currently unavailable in the provided data. The share quantities can be updated once the final Sunshine Pictures IPO category-wise reservation and anchor allocation details are available.
Analysis
Sunshine Pictures IPO Anchor Investors
The Sunshine Pictures IPO anchor investor bidding is scheduled for August 17, 2026, one day before the IPO opens for public subscription. The final anchor allocation will provide details regarding institutional participation in the issue.
As per the provided lock-in schedule, 50% of the shares allotted to anchor investors will have a 30-day lock-in period ending on September 16, 2026. The remaining 50% of anchor shares will have a 90-day lock-in period ending on November 15, 2026.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 17, 2026 |
| Anchor Investors List | To be Updated |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | September 16, 2026 |
| Lock-in Period End Date – Remaining 50% Shares (90 Days) | November 15, 2026 |
Note: The anchor investor names, number of shares allocated and total anchor investment amount are currently unavailable in the provided data. These details can be updated once the final Sunshine Pictures IPO anchor allocation is announced.
Analysis
Sunshine Pictures IPO Dates
The Sunshine Pictures IPO will open for subscription on August 18, 2026 and close on August 20, 2026. Investors can submit their applications during this three-day IPO subscription period.
The Sunshine Pictures IPO allotment is expected to be finalized on August 21, 2026. Refunds for unsuccessful applicants and the credit of shares to successful investors' demat accounts are scheduled for August 24, 2026. The shares are scheduled to list on the BSE and NSE on August 25, 2026.
| IPO Event | Date |
|---|---|
| IPO Open Date | August 18, 2026 |
| IPO Close Date | August 20, 2026 |
| Basis of Allotment | August 21, 2026 |
| Refunds | August 24, 2026 |
| Credit to Demat Account | August 24, 2026 |
| IPO Listing Date | August 25, 2026 |
Note: The above table summarizes the Sunshine Pictures IPO timeline, including the opening date, closing date, basis of allotment, refund initiation, demat credit and proposed BSE and NSE listing date.
Analysis
Sunshine Pictures IPO Promoters and Holding Pattern
The promoters of Sunshine Pictures are Vipul Amrutlal Shah, Shefali Vipul Shah, Aryaman Vipul Shah and Maurya Vipul Shah. Before the IPO, the promoter and promoter group collectively hold the entire pre-issue share capital of the company.
The promoter and promoter group hold 2,63,48,750 equity shares, representing 100% of the company's pre-IPO shareholding. Following completion of the IPO, promoter and promoter group ownership is expected to reduce to approximately 74.84%, while other shareholders are expected to hold approximately 25.16%.
Promoters of Sunshine Pictures
- Vipul Amrutlal Shah
- Shefali Vipul Shah
- Aryaman Vipul Shah
- Maurya Vipul Shah
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 2,63,48,750 | 100% | – | 74.84% |
| Others* | – | -% | – | 25.16% |
| Total | 2,63,48,750 | 100% | 3,11,48,784 | 100% |
Note: The above table summarizes the provided pre-IPO and post-IPO shareholding pattern of Sunshine Pictures. Promoter and promoter group ownership is expected to decrease from 100% before the IPO to approximately 74.84% following completion of the issue.
Analysis
Sunshine Pictures IPO Objects of the Issue & Utilisation of Proceeds
Sunshine Pictures proposes to utilise the IPO proceeds primarily towards funding the company's working capital requirements. A portion of the proceeds will also be utilised for general corporate purposes.
As per the provided information, an amount of approximately ₹940.00 crores has been specified towards the company's working capital requirements. These funds are intended to support the operational and business funding requirements of Sunshine Pictures.
| Purpose | Amount |
|---|---|
| Funding the working capital requirements of the Company | ₹940.00 Crores |
| General Corporate Purposes | ₹- |
Note: The working capital amount of ₹940.00 crores shown above is based on the data provided. This figure is higher than the stated fresh issue size of ₹172.80 crores, so it should be rechecked against the final offer document before publication.
Analysis
Sunshine Pictures About IPO
Sunshine Pictures Limited, founded in 2007, is one of the leading companies involved in the business of originating, creating, developing, producing, marketing, and distributing films, TV serials, and web series. Sunshine Pictures is a technology-driven content creator involved in making commercial films, covering script development, production, intellectual property creation, rights monetization, and distribution. Force, Commando, Holiday, Force 2, Commando 2, and The Kerala Story are some of the highly popular movies that were made by the company.
Sunshine Pictures has made 10 commercial films (6 of them co-produced), 2 web series, 2 TV serials, and 1 short film. Also, currently, it is co-producing 2 films with Jio Studios and working on 1 web series for Doordarshan. Moreover, the company is also active on YouTube, Instagram, and Facebook channels 162,960 YouTube subscribers, 9.18 crore views, and 104,500 followers across Instagram and Facebook, generating additional revenue. The company includes a total of 28 permanent employees as of December 15, 2024.
Analysis
Sunshine Pictures IPO Company Financial Report
Sunshine Pictures reported revenue of ₹139.46 crores in FY2024 on a consolidated basis, followed by ₹105.80 crores in FY2025 on a consolidated basis. For FY2026, the company reported standalone revenue of ₹76.27 crores.
Profit After Tax (PAT) stood at ₹52.45 crores in FY2024 and ₹34.46 crores in FY2025 on a consolidated basis. For FY2026, standalone PAT was ₹40.02 crores. Meanwhile, total assets increased from ₹97.39 crores in FY2024 to ₹179.64 crores in FY2026.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 (Consolidated) | ₹139.46 Cr. | ₹69.29 Cr. | ₹52.45 Cr. | ₹97.39 Cr. |
| 2025 (Consolidated) | ₹105.80 Cr. | ₹59.59 Cr. | ₹34.46 Cr. | ₹131.28 Cr. |
| 2026 (Standalone) | ₹76.27 Cr. | ₹21.90 Cr. | ₹40.02 Cr. | ₹179.64 Cr. |
Amount in ₹ Crores: FY2024 and FY2025 figures are consolidated, while FY2026 figures are standalone. Because the reporting basis differs, investors should avoid making a direct year-on-year comparison without considering the change from consolidated to standalone financial reporting.
Analysis
Sunshine Pictures IPO Valuation – FY2026
The Sunshine Pictures IPO valuation can be assessed using key financial indicators such as Earnings Per Share (EPS), Return on Equity (ROE), Return on Capital Employed (ROCE), EBITDA Margin, PAT Margin, debt-to-equity ratio, Return on Net Worth (RoNW) and Net Asset Value (NAV).
For FY2026, Sunshine Pictures reported an ROE of 31.99% and ROCE of 36.20%. The EBITDA margin stood at 78.65%, while the PAT margin was 53.77%. The company reported basic EPS of ₹15.19 per share, RoNW of 27.58% and NAV of ₹55.08 per share.
| KPI | Values |
|---|---|
| ROE | 31.99% |
| ROCE | 36.20% |
| EBITDA Margin | 78.65% |
| PAT Margin | 53.77% |
| Debt to Equity Ratio | 0.06 |
| Earning Per Share (EPS) | ₹15.19 (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 27.58% |
| Net Asset Value (NAV) | ₹55.08 |
Note: The above valuation metrics are based on the provided FY2026 financial information. Investors should compare Sunshine Pictures' EPS, RoNW, NAV, profitability margins, debt position and IPO pricing with relevant listed peers while evaluating the issue.
Analysis
Sunshine Pictures IPO Peer Group Comparison
The Sunshine Pictures IPO peer group comparison helps investors compare the company's financial and valuation profile with listed companies operating in the film, television and entertainment content industry. Key parameters include Earnings Per Share (EPS), Price-to-Earnings (P/E) ratio, Return on Net Worth (RoNW), Net Asset Value (NAV) and income.
The identified listed peers include Panorama Studios International Limited, Baweja Studios Limited and Balaji Telefilms Limited. Their earnings, valuation multiples and return ratios vary significantly, highlighting the differences in profitability and business performance across entertainment companies.
| Company | EPS | P/E Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Panorama Studios International Ltd | 0.60 | 81.00 | 7.10% | 8.47 | 317.35 Cr. |
| Baweja Studios Limited | 3.29 | 8.68 | 5.52% | 59.73 | 69.51 Cr. |
| Balaji Telefilms Limited | (4.09) | – | (7.96%) | 51.22 | 221.17 Cr. |
Note: Peer-group figures provide a comparative benchmark and should not be considered in isolation. Investors should compare Sunshine Pictures' EPS, profitability, RoNW, NAV, business scale and IPO valuation with its listed entertainment industry peers while assessing the issue.
Analysis
IPO Lead Managers aka Merchant Bankers
- GYR Capital Advisors Pvt. Ltd.
FAQ
Sunshine Pictures IPO FAQs
Sunshine Pictures IPO price band is Rs 342.00 to Rs 360.00. Check the latest issue price, lot size and GMP together before applying.
Sunshine Pictures IPO open date is 18 Aug 2026, close date is 20 Aug 2026, and listing date is 25 Aug 2026.
Sunshine Pictures IPO lot size is 41 shares. The minimum retail investment is Rs 14,760.
Sunshine Pictures is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Sunshine Pictures IPO subscription status currently shows Retail 13.76x, QIB 20.13x, NII 51.47x, Overall 23.66x.
Sunshine Pictures Limited is a production house engaged in originating, developing, producing, marketing, and distributing feature films, television programmes, and web series. The company has produced 13 commercial films, including notable successes like “Force,” “Holiday,” and “The Kerala Story,” along with two web series and three television serials. Sunshine Pictures operates on a dual-model strategy, utilizing co-productions with studios to mitigate financial risk while also undertaking sole productions to retain full intellectual property rights and maximize revenue from multiple streams. Revenue is generated from the production and distribution of films and OTT/TV serials, with additional income from its music label “Sunshine Music,” digital content vertical “Sunshine Digital (Originals),” talent management, and social media platforms. The company’s diversified content portfolio and business model position it to capitalize on evolving audience preferences in the Indian media and entertainment industry.
Sunshine Pictures IPO issue size is 282.14 and the expected allotment date is 21 Aug 2026.
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